Occidental Petroleum Corp. unit Oxy USA Inc. is selling most of its natural gas liquids business for $700 million under a deal that calls for Oxy to form a 50-50 joint venture with the buyer to operate the business. Separately, Oxy's chemical unit will sell its industrial phosphate business to FMC Corp., Chicago, for an undisclosed price. The company will discontinue operations at a plant in Dallas and one in Jeffersonville, Ind. Oxy's operations at its Columbia, Tenn., plant will be reduced, while its Niagara Falls, N.Y., plant will continue to operate. GAS LIQUIDS DEALS Hicks, Muse ...

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